Summary:
A lot of people want to purchase homes, but don’t have the credit, or are possibly newly self-employed. I sit down and chat with Chris Prefontaine to look at an interesting variation of real estate investing that involves a rent-to-own approach. If you can’t buy now, this is a very effective way to get into the market. Tune in to hear more about what rent-to-own entails, and how you can easily get involved.
Highlights:
-A lot of people want to buy homes but don’t have the credit, are self employed, etc.
-Chris Prefontaine has been a real estate coach for 30 years and helps people figure out how to navigate through this process
-If you can’t buy now, it’s best to go through a solid rent-to-own program
-If you’re a buyer/investor make sure you’re going through an underwriting process at the beginning and have a mortgage plan ready
-You need to also have the buyer mentality
-With rent-to-own, buyers have to go through the qualification process, (the buyer may need credit repair, or may be self-employed)
-You enter the home as if you bought it, and you take care of repairs
-Prefontaine helped create a concept called “Three Pay Days”
-They schedule monthly principal payments with most deals
-If you’re brand new, the lease-purchase method is the way to start
-Prefontaine’s lease purchase agreements are already set up and only require a $10 deposit
Useful Links:
Financial Survival Network
Smart Real Estate Coach
